Richard Teng, co-CEO of Binance, emphasized that India’s large, youthful, and technologically adept population positions it as a natural center for global cryptocurrency adoption. He argued that regulators around the world, including those in India, are gradually moving from skepticism to active engagement.
“India leads the crypto adoption index at a grassroots level,” Teng remarked, referencing Chainalysis data, and mentioned that many previous skeptics worldwide have transformed into advocates.
While India recognizes digital assets and central bank digital currencies (CBDCs), cryptocurrency trading sits in a grey area. Teng believes that enhancing knowledge transfer can alter perceptions. “Misunderstandings often arise from a lack of knowledge,” he noted, highlighting how prominent global finance figures shifted from skeptics to advocates after grasping the underlying technology.
Teng stated that Binance aims to amass one billion users, with India playing a crucial role in that goal. He also regards India’s CBDC trial as strategically significant, suggesting it could help clarify blockchain concepts for the central bank.
Global crypto momentum persists; institutional engagement intensifies
Despite cryptocurrency prices declining from their peaks, Teng noted that the foundational market structure remains strong. He highlighted that Binance surpassed 300 million users last year, processing approximately $34 trillion in trading volume, while obtaining a comprehensive global license from Abu Dhabi Global Markets. “Our goal is to reach a billion users,” Teng shared, mentioning that Binance welcomed over 60 million new users each year in the past two years.
Institutional trading volume on Binance increased by over 20%, which Teng identified as a sign that corporate treasuries are beginning to adopt cryptocurrencies and stablecoins for more efficient global capital movements. “Treasuries are now utilizing stablecoins and crypto because it enables them to transfer capital worldwide 24/7 at significantly lower costs,” he explained. (A)
Recently, Binance introduced gold and silver perpetual contracts, and Teng indicated that the company aims to diversify its asset offerings further in response to strong demand.
US clarity drives global re-evaluation of AI and blockchain
Teng commended the US effort to establish regulatory clarity through legislation such as the Clarity Act and Genius Act, positioning the US as a leader in AI and blockchain innovation. “These technologies will influence all economic sectors in the future,” he said, urging other governments to “reassess their stance on AI and blockchain” to remain competitive.
He claimed that regulatory clarity provides a competitive edge. It’s important to note that the GENIUS Act, passed in July 2025, introduced the first federal framework for stablecoins in the US, permitting banks, credit unions, and non-bank entities to issue them under defined guidelines, essentially exempting compliant offerings from classification as securities or commodities.
In contrast, Europe is progressing with MiCA, a unified regulatory framework for crypto asset services providers (CASPs), with full licensing expected by mid-2026, encompassing everything from reserves to risk disclosures and anti-money laundering/counter-terrorism financing compliance.
